Retailers are skeptical that a GST exemption would spur more spending during the holiday season.
Retailers, grocers and other businesses say they will be busy in the coming weeks preparing for a proposed federal tax break on a number of items and services, though they’re skeptical that a GST exemption would spur more spending during the holiday season.
But for the novelty store Oscar & Libby’s, it’ll be a late night of going line-by-line through every listed item on that store to determine if they fall within the wide array of items proposed for a federal tax break between Dec. 14 and Feb. 15, she said.Those working the till will just have to press a re-programmed button on the register that will take off the right amount of tax for the goods starting Dec. 14, she said.
There should be enough time before Dec. 15 to sort out any missing details, he said, noting that his store deals with a local point-of-sale company, which should be able to help if any problems arise. While most retail databases will already use sub-categories to account for how different goods are taxed at different levels, the federal government’s proposed exemptions will not align with pre-existing categories, so businesses will have to go through their entire database “with a fine-toothed comb” to make sure they’re charging the right amount of tax for each product, he said.
“And then they’re going to have to turn them back on again in a few months,” he said. “This is an astronomical amount of work.” Ian Tostenson, president of the B.C. Restaurant and Food Services Association, said the tax relief — which applies to restaurant meals regardless of whether it is dine-in or takeaway — will likely have little effect in stimulating the restaurant economy.
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